From Town Administrator Jamie Hellen's memo to the Finance Committee:
"Please find the attached Capital Plan for FY22, as well as the five-year capital plan from each department as required by the Town Charter. Included with this memo is a sheet with the 20-year free cash history. The average is $3.19 million over the past ten years and $2.72 Million over the past 20 years. FY22 is an unusually large year in excess, unspent revenue due to the second pandemic year.
From the certified total, there are several policy commitments that eat into the total right off the bat, most notably contributions to stabilization accounts (per town policy) as well as the usual recommendation from staff to hold revenue for annual snow and ice removal. See narrative below for more specifics.
These recommendations are Round 1 of the FY22 Capital program. Once we know the final totals of the winter costs for snow removal, if there are remaining funds, staff will propose a “Round 2” Capital later in April, which we have traditionally used to fund road and infrastructure projects."
Capital Plan memo ->
Full FinCom agenda and supporting documentation (127 pages)
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| Finance Committee Meeting - Feb 9, 2022 - agenda to review the FY 2022 Capital Plan |
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